Summit Trail Advisors LLC Raises Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Summit Trail Advisors LLC increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,378 shares of the medical research company’s stock after purchasing an additional 1,214 shares during the period. Summit Trail Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. International Assets Investment Management LLC boosted its holdings in Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after acquiring an additional 1,414,556 shares in the last quarter. Swedbank AB bought a new stake in Thermo Fisher Scientific in the first quarter worth $705,636,000. Ameriprise Financial Inc. boosted its holdings in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at $254,412,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last ninety days. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $513.26 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $480.57 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a market capitalization of $196.32 billion, a P/E ratio of 32.18, a P/E/G ratio of 3.41 and a beta of 0.79. The stock has a 50 day moving average price of $575.70 and a 200 day moving average price of $580.15.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $5.69 EPS. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.30%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMO. TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein lowered their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.